World Economy

Bulgaria Economy Slows

Bulgaria Economy Slows Bulgaria Economy Slows

Bulgaria’s economy slowed down in the second half of 2014. That hardly comes as a surprise given the presence of internal factors like CorpBank’s bust and the political instability, and external events like the conflict in Ukraine, Focus reported. According to National Statistical Institute (NSI) data, Bulgaria’s GDP growth contracted to 1.2% in Q4 last year, continuing the negative trend from the previous quarter. A closer look at the separate economic indicators reveals the reasons behind the slowdown – investment growth was negative and the foreign trade balance deteriorated. Consultants from Industry Watch expect the country’s GDP growth to have reached 1.5% in 2014.